Everyone

Dec. 1, 2021

Is Cash Really King in Real Estate?

Is cash really king when purchasing real estate? The short answer to that question is yes, and there are some good reasons why that’s the case.

Contracts to purchase a home typically have a number of contingencies and deadlines in them that allow a buyer and/or seller to cancel ...

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Posted in Buyers, Everyone, Sellers
Nov. 28, 2021

Florida Wind Insurance Tips

Florida wind insurance is not a requirement for residential homes in Florida. However, if you live in South Florida, mortgage lenders will definitely insist on the coverage. There is a reason why wind insurance is also known as hurricane insurance. We can, on occasion, get battered.

Homeowner’s insurance can be ...

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Posted in Everyone
Nov. 21, 2021

What's a WDO Inspection Contingency?

A WDO Home Inspection Contingency, as it is presented in the standard Florida Realtor’s Residential Contract For Sale And Purchase, protects both the buyer and the seller. The Wood-Destroying Organism (termites, wood-eating beetles and wood destroying fungi) inspection and the buyer’s request for repairs must be completed by the inspection ...

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Posted in Everyone
Nov. 14, 2021

What's a Home Inspection Contingency?

A Home Inspection Contingency, as it is presented in the standard Florida Realtor’s Residential Contract For Sale And Purchase, protects both the buyer and the seller. The home inspection and the buyer’s request for repairs must be completed by the date stated in the contract. If left blank, it defaults ...

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Posted in Everyone
Nov. 6, 2021

What's a Financing Contingency?

Three situations (contingencies) allow a home buyer to cancel the contract and recover their escrowed Good Faith (Earnest) money. These conditions are: home needs repairs, appraisal value is lower than the accepted offer price, and the inability to receive a mortgage loan approval.

If the buyer is planning to finance ...

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Posted in Everyone
Oct. 30, 2021

Low Appraisal Consequences

What happens to a financed home sale when there is a low appraisal value?

Lenders fund a home purchase loan based on the accepted offer price or the property appraisal value, whichever is lower. So what happens to the deal if the appraisal value is lower than the offer price ...

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Posted in Everyone
Oct. 9, 2021

Home Service Warranties

If you’re thinking about selling or leasing a home with older appliances and/or systems, a home service warranty might be right for you. But what exactly is it?

To begin with, a home service insurance policy is different from a homeowner’s insurance policy which covers damage or loss following ...

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Posted in Everyone
Sept. 16, 2021

Broward County Deed Fraud

It’s no secret that there’s a lot of fraudulent activity here in South Florida, but Broward County’s made it a little bit tougher for the Bad Guys to get away with it. One easy step will keep you from having to face the nightmare of a moving van pulling into ...

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Posted in Everyone
Aug. 29, 2021

FIRPTA and Foreign Sellers

The Foreign Investment in Real Estate Property Tax (FIRPTA) was enacted to ensure that the U.S. government could collect capital gain tax on the profits realized by foreign sellers (not a U.S. citizen or a resident alien with a green card ) of real property. How do they ...

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Posted in Everyone
Aug. 15, 2021

Real Estate Estoppel Letters

Title companies in Florida order an estoppel letter from homeowner associations to verify maintenance fees, liens, special assessments, etc. I have been a Florida Realtor since 2003, and I don't recall ever seeing one. That all changed last week. I'd been told by the listing agent for a ...

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Posted in Everyone